- Musk offered to pay $41 billion to take Twitter private.
- The company’s board is also reportedly not willing to accept it.
Cardano founder Charles Hoskinson has proposed creating a new decentralized social media platform from scratch together with Tesla Elon Musk if the billionaire’s audacious attempt to take over Twitter fails.
Douglas Horn, the chief architect of the Telos blockchain, facetiously predicted that the project would be delivered by 2035. Another Twitter user joked that the platform would only be able to send ten messages per minute, alluding to various tech issues plaguing Cardano-based applications.
Dogecoin Co-founder Criticizes Musk
I made an offer https://t.co/VvreuPMeLu
— Elon Musk (@elonmusk) April 14, 2022
Musk offered to pay $41 billion to take Twitter private, claiming that the unsolicited bid was meant to protect freedom of speech. Before that, he acquired a 9.2% stake in the company. Dogecoin co-founder Jackson Palmer criticized Musk for attempting a hostile takeover of Twitter.
Critics argue that the mogul is far from being a free speech messiah, and his real motive is to get back at the U.S. Securities and Exchange Commission (SEC). Musk’s tweets have to be preapproved before publishing as part of his settlement with the formidable regulator. So the billionaire is now trying to get rid of his “Twitter sitter.”
Musk is “not sure” whether or not he will succeed in taking over Twitter but claims that he has “a Plan B.” Saudi Prince Alwaleed bin Talal Al Saud, a key Twitter shareholder, has shot down Musk’s offer. The company’s board is also reportedly not willing to accept it.
